Why we raided, arrested some BDC Operators – EFCC
Written by Joseph Emeribe on November 16, 2022
The Economic and Financial Crimes Commission (EFCC) has said that it has arrested some bureau de change operators across the country, especially in Lagos and Abuja, to sanitize the foreign exchange sector.
The EFCC Chairman, Abdulrasheed Bawa, stated this during a program on “sanitizing ungoverned operators in the forex sector.”
EFCC spokesperson, Wilson Uwujaren, in a statement on Tuesday said Bawa was represented by the Commission’s Director of Operations, Abdulkarim Chukkol
According to him, the EFCC’s arrest of BDC operators and currency speculators in the parallel market was not indiscriminate but a product of intelligence.
The Guardian reports that the Commission considers foreign exchange malpractice as an economic crime against the Nigerian state, adding that the Commission, as far back as 2016, established a full-fledged section known as the Foreign Exchange Malpractices Section and, for over ten years, maintained a visible “presence at all airports in the country to checkmate incidences of bulk cash movement outside Nigeria, which is another aspect of this menace.”